August 28, 2019 – Facebook is keen to make its cryptocurrency project Libra secure and as such, it launches a bug bounty program that will pay security researchers up to $10,000 in rewards.
In a report from Coindesk, the recently launched bug bounty program is expanded to 50 external researchers, and the public is welcome to report vulnerabilities in the Libra Code. This is in partnership with the HackerOne bug bounty platform. “Vulnerabilities found now could significantly impact the final version,” said Dante Disparte, Libra Association Communications Lead.
Bounty programs are the norm in blockchain and cryptocurrency projects as well as in the larger cybersecurity community. These programs offer value to projects in both insights and public trust, with the latter being badly needed by Facebook who faced scrutiny from governments concerned of the social network being privy to data related to user’s finance. Facebook has repeatedly said that it will only launch Libra once all regulatory concerns are taken into account.
In the last few weeks, Facebook’s Libra Association is dampened with news relating to some of the founding members not being steadfast in their commitment to the project. These include Visa, Paypal, and other tech giants. Coindesk, however, reported that Libra’s core crypto-centric founding partners – Coinbase, Xapo, Anchorage, and Bison Trails are still optimistic with the initiative.
And while some founding members want out, others are interested to join. To join, the member must pay atleast $10 million. The member will receive Libra tokens that earn interest.
This article is published on BitPinas: $10,000 Max Reward for Facebook Libra Bug Bounty